Folksy Ltd

Ask the accountant

On Tuesday 16 February we’ll be holding a #folksyhour special over on Twitter, where Matthew Giles from Brown McCleod, chartered accountants who specialise in the creative industries, and Dean Shepherd from will be on hand to answer all your tax questions.

So what would you like to know?

Maybe you’re not sure if you need to register your business with HMRC, whether you should be self-employed or a limited business, what you should be paying, what forms you should be filling in and when, what information you should be keeping, what you can claim for, how much you can earn before you need to pay VAT and whether employing the services of an accountant to sort all these things out for you is worth it or just far too expensive?

If you let us know here, we can pass on your questions to Matthew to give him time to prepare, or come along on the night and ask him then. We’ll summarise the chat afterwards for anyone who can’t make it, and put together a blog post with the main points. So if you can’t come along or don’t do Twitter, you won’t miss out.

Find out how #folksyhour works and how you can join in here


Can he explain in terms a non-accountant can understand the business about unsold stock at the end of the financial year please?

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A linked question. Under the Cash Basis tax return do I have to do a stock take of i.e. fabric that I bought in the last tax year but have not used this tax year.

This is a really good topic. Unfortunately I have Zumba during Folksy Hour, but I’ll be sure to read the round-up afterwards!

Love Sam x

This is a great idea to have this, not sure I can attend, but one thing that always puzzles me is the best way to record wastage - when designing sometimes things don’t turn out as planned and you don’t want to sell them, so how should waste items or material best be recorded in accounts?